The Biden administration has put forward a different strategy in response to the Supreme Court’s earlier in the month decision to strike down the plan for student loan forgiveness. Over$ 39 billion worth of student loans, or up to$ 804, 000 borrowers, will be forgiven, according to the Biden administration.
For Saving on a Valuable Education, the new student loan relief program known as the SAVE plan,” will save borrowers thousands of dollars by keeping their monthly payments small( as small as$ 0 ) while also preventing interest from exploding what they owe.”
The new SAVE plan will be an income-driven repayment plan that will” phase out the current Revised Pay As You Earn plan( REPAYE ),” according to the Department of Education.
Breaking: Biden announces$ 39 billion in new student loan debt forgiveness Just The News https :// t.co / HoJtKazrfF
